Abstract

This short letter investigates the dynamics of aggregates extraction in Serbia between 1973 and 2015. The change point analysis identifies 5 structural breaks in the intercept and linear time trend of aggregates
extraction: 1980, 1989, 1995, 2003 and 2009. The estimated break dates correspond to the major business cycle turning points of the Serbian economy in the last 40 years. These findings suggest how aggregates
extraction industry in Serbia was largely affected by the overall economic activity between 1973 and 2015.